March ICE Cocoa Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March cocoa futures that prices are in a downtrend and have just hit a six-month low. The bears are in firm technical control. A move in prices below solid technical support at $2,889 would become a selling opportunity. The downside price objective would be $2,650 or below. Technical resistance, for which to place a protective buy stop just above, is located at $3,000.
